Barnett Bank of South Florida, National Association in Miami, Florida (FL)



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Barnett Bank of South Florida, National Association
GeneralFDIC Certificate #: 3577
Status: Inactive
Closing history: Corrections
Acquiring institution: Barnett Bank, National Association (#3566)
Federal Reserve ID: 704036
Date Established: November 06, 1933
Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
Offices: 50 (Interstate: No)
FDIC's unique #: 2268
Numeric code: 3
Regulator: OCC
Insurance Fund Membership: Bank Insurance Fund (BIF)
Bank Insurance Fund: Yes
Insured commercial Banks: Yes
FDIC Insured: Yes
Oakar Institutions: Yes
State Chartered: No
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: June 29, 1996
Last Structure Change Process Date: July 11, 1996
Last Data Update: September 18, 1999
Data Source Date: April 05, 2012
LocationAddress: 701 Brickell Avenue, Miami, FL 33131
County: Miami-Dade
Quarterly Banking Profile Region: Atlanta
FDIC Geographic Region: Atlanta
FDIC Supervisory Region: Atlanta
FDIC Field Office: South Florida
Office of the Comptroller the Currency (OCC) District: Southwest
Office of Thrift Supervision Region: Southeast
Metropolitan Statistical Area (MSA): Miami, FL (#5000)
Consolidated Metropolitan Statistical Area (CMSA): Miami-Fort Lauderdale, FL (#56)
Core Based Statistical Area (CBSA): Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
CBSA Metro Statistical Area: Miami-Fort Lauderdale-Pompano Beach, FL (#33100)
Core Based Statistical Division: Miami-Miami Beach-Kendall, FL (#33124)
History of ChangesMerger - Without Assistance
Corrections
Financial SummaryTotal assets: $4,940.0 mil

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Assets and Liabilities (December 31, 1995)
(Dollar figures in thousands)
Total employees (full-time equivalent)0
Total assets$977
Cash and due from depository institutions$4,957,791
Interest-bearing balances$549,520
Securities$0
Federal funds sold & reverse repurchase agreements$1,088,721
Net loans & leases$60,000
Loan loss allowance $2,994,680
Trading account assets$45,732
Bank premises and fixed assets$9
Other real estate owned$51,876
Goodwill and other intangibles$4,267
All other assets$35,501
Life insurance assets$173,217
Total liabilities and capital$0
Total liabilities$4,957,791
Total deposits$4,603,478
Interest-bearing deposits$4,074,497
Deposits held in domestic offices$3,140,622
% insured (estimated)4074497.00%
Federal funds purchased & repurchase agreements $78
Trading liabilities$355,480
Other borrowed funds $9
Subordinated debt $13,850
All other liabilities $27,900
Total equity capital$131,742
Total bank equity capital$131,742
Perpetual preferred stock$354,313
Common stock$0
Surplus$2,800
Undivided profits $181,840
Memoranda
Noncurrent loans and leases $169,673
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $0
Income earned, not collected on loans $17,252
Earning assets $20,080
Long-term assets (5+ years) $4,143,401
Average Assets, year-to-date $814,251
Average Assets, quarterly $5,072,420
Volatile liabilities $4,990,045
Insider loans $990,983
FHLB advances $5,985
Loans and leases held for sale $0
Unused loan commitments $26,249
Tier 1 (core) risk-based capital $1,947,370
Tier 2 risk-based capital $0
Total risk weighted assets $311,030
Total unused commitments $3,225,944
Restructured Loans and leases $0
Derivatives$304,895
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Income and Expense (December 31, 1995)
(Dollar figures in thousands)
Total interest income $0
Total interest expense $344,036
Net interest income $142,218
Provision for loan and lease losses $201,818
Total noninterest income $13,953
Fiduciary activities $56,990
Service charges on deposit accounts $0
Trading account gains & fees $32,767
Additional noninterest income $970
Total noninterest expense $23,253
Salaries and employee benefits $140,321
Premises and equipment expense $37,025
Additional noninterest expense $17,134
Pre-tax net operating income $86,162
Securities gains (losses) $104,534
Applicable income taxes $10
Income before extraordinary items $36,587
Extraordinary gains - net $67,957
Net income attributable to bank $0
Net charge-offs $67,957
Cash dividends $15,276
Sale, conversion, retirement of capital stock, net $112,000
Net operating income $0
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Performance and Condition Ratios (December 31, 1995)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets0.00%
Cost of funding earning assets 7.94%
Net interest margin 3.28%
Noninterest income to earning assets 4.66%
Noninterest expense to earning assets 1.32%
Net operating income to assets 3.24%
Return on assets (ROA) 1.34%
Pretax return on assets 1.34%
Return on equity (ROE) 2.06%
Retained earnings to average equity (YTD only) 19.28%
Net charge-offs to loans -12.50%
Credit loss provision to net charge-offs 0.52%
Efficiency ratio91.34%
Assets per employee$53,136
Cash dividends to net income (YTD only)5.07%
Condition Ratios (%)
Loss allowance to loans 164.81%
Loss allowance to noncurrent loans 1.50%
Noncurrent assets plus other real estate owned to assets 265.08%
Noncurrent loans to loans 0.43%
Net loans and leases to deposits0.57%
Net loans and leases to core deposits 73.50%
Equity capital to assets 86.76%
Core capital (leverage) ratio 7.15%
Tier 1 risk-based capital ratio 6.28%
Total risk-based capital ratio 9.64%
Memoranda
Average assets$12
Average earning assets$5,072,420
Average equity $352,473
Average loans $4,331,167
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